Leading stocks, sovereign bonds in dollars and pesos, and the main ADRs registered sharp declines of up to 31%.
In September, lThe Buenos Aires stock market fell 14% and wrote down his worst month from March 2020a moment that marked the beginning of the pandemic. The punished month of Argentine assets were impacted by the electoral uncertaintythe profit taking after extraordinary returns and the adverse international context.
The Actions leaders, the Sovereign bonds in dollars and pesos, and the main ADRs registered sharp declines up to 31%. This happened after having accumulated large increases in the first eight months of the year. However, after the August primary elections, the trend changed.
merval-bolsa-porteña.jpg
Argentine News
As for the leading stocks, the biggest declines of the month were led by the financial sector: Banco Macro (-31.2%), Banco BBVA (-30.9%), Grupo Supervielle (-25.1%), and Grupo Financiero Galicia (-24.4%). The only two that came up from the panel were Aluar (+5.2%), and Ternium (+0.5%)so-called “coverage” companies.
The S&P Merval came close to US$900 and the bonuses They also had a bullish rally but, after the primary elections, a process of profit taking.
merval-bolsa-porteña.jpg
Argentine News
For Maximiliano Donzelli, Head of Research at IOL investingonlinethe causes were due to “a important profit taking” in part “by the election result” and for him “global context a little more challenging.”
The bad streak also impacted the bonuses sovereigns, who accumulated falls in dollars of between 10.7% (GD46D) and 18.9% (GD41D) in September. In that sense, Donzelli explained that “although there were international News referring to a longer period of restrictive monetary policy, which generated an impact on the price of these assets, we understand that the local context of uncertainty ahead of the elections exacerbated the casualties”.
Looking ahead to next month, the investors’ attention this put in the elections generals that will take place next October 22.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
